Seizert Capital Partners LLC Has $463,000 Stake in Turning Point Brands, Inc. (NYSE:TPB)

Seizert Capital Partners LLC trimmed its position in Turning Point Brands, Inc. (NYSE:TPB) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,792 shares of the company’s stock after selling 1,482 shares during the period. Seizert Capital Partners LLC’s holdings in Turning Point Brands were worth $463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Northern Right Capital Management L.P. raised its position in Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock valued at $8,075,000 after buying an additional 104,931 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Turning Point Brands by 36.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after acquiring an additional 84,552 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Turning Point Brands by 122.3% during the 1st quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company’s stock worth $7,240,000 after acquiring an additional 67,005 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Turning Point Brands by 205.8% in the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock valued at $5,845,000 after purchasing an additional 65,457 shares during the last quarter. Finally, Portolan Capital Management LLC bought a new stake in shares of Turning Point Brands in the fourth quarter worth $3,817,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

NYSE TPB opened at $79.63 on Wednesday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 34.93 and a beta of 0.75. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. The firm’s fifty day moving average price is $75.08 and its two-hundred day moving average price is $66.87. Turning Point Brands, Inc. has a 1 year low of $34.78 and a 1 year high of $81.25.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. The company had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. Turning Point Brands’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. As a group, research analysts anticipate that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 20th were paid a $0.075 dividend. The ex-dividend date was Friday, June 20th. This represents a $0.30 annualized dividend and a yield of 0.38%. Turning Point Brands’s dividend payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TPB shares. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer raised their price objective on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $76.67.

Insider Buying and Selling

In other news, SVP Brittani Cushman sold 7,500 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total transaction of $557,700.00. Following the completion of the transaction, the senior vice president directly owned 34,687 shares in the company, valued at approximately $2,579,325.32. The trade was a 17.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Wexler sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total value of $1,898,500.00. Following the transaction, the director directly owned 330,186 shares in the company, valued at $25,074,324.84. The trade was a 7.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,300 shares of company stock valued at $8,666,867. Insiders own 6.60% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.